A Wealthy Life

Ep 125 - Just Because You Can Does Not Mean You Should With Lisa Oliver

18 Jul 2024

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What if managing your property portfolio could save you a fortune? This week on "A Wealthy Life," I sit down with returning guest Lisa Oliver to discuss the complex decision of self- managing HMO properties versus outsourcing. Lisa's journey from managing her own diverse portfolio to overseeing properties for other investors offers a treasure trove of insights on education, legal knowledge, and the indispensable support team you need to succeed. Whether you're after rewards and cost savings or wary of the workload and emergencies, Lisa shares the ultimate guide to making an informed choice. Have you ever considered the hidden pitfalls of buying properties with existing tenants? Lisa discusses the legal entanglements, like improperly filed tenancy deposits and non-compliant agreements, that can turn your investment dream into a nightmare. We also discuss the pivotal role competent letting agents play in ensuring compliance and avoiding future liabilities. Ignoring landlord responsibilities can spell disaster, from legal fines to deteriorating property value. Lisa underscores the importance of treating tenants with respect and the severe consequences of neglecting regulatory requirements, such as deposit protection and fire safety. We also explore strategic spending to maintain property value and how not adjusting rents can impact your bottom line. Finally, we delve into crucial advice for avoiding common pitfalls, stressing the importance of proper education, experienced mentors, and a reliable power team. Tune in for a wealth of knowledge that can help you navigate the complex world of property management. --------- EPISODE CHAPTERS --------- (0:00:00) - Self-Management vs. Outsourcing Property Management Nature's pros and cons of self-managing HMO properties, including education, legal knowledge, communication skills, and mentorship. (0:10:01) - Risks and Considerations in Property Management Ensuring compliance with tenancy regulations, vetting letting agents, and maintaining expertise are crucial when buying a property with existing tenants. (0:18:40) - Property Management and Landlord Responsibilities Managing multiple rental properties with letting agents, self-management challenges, reliable support, and the consequences of neglecting maintenance. (0:27:50) - Importance of Landlord Compliance and Education Managing rental properties involves respecting tenants, addressing maintenance issues, complying with regulations, and staying informed through education. (0:35:55) - Landlord Profitability and Property Management Strategic spending, tenant turnovers, and hiring a letting agent are crucial for successful HMO property management. (0:44:50) - Avoiding Pitfalls Nature's pitfalls in property investment: education, mentors, contracts, reliable advice, conservative numbers, and being prepared to walk away. To watch this episode on YouTube: https://youtu.be/WHqsCPRGTbw Previous episodes with Lisa Oliver: Episode 120 - https://youtu.be/Lkt09Awn1xM Episode 115 - https://youtu.be/Rkkx1mHBHp4 Follow Lisa: LinkedIn - https://www.linkedin.com/in/lisajoliver Website - https://weareideal.co.uk/ https://smartmoveinvestments.co.uk/ Connect with Vicki: https://linktr.ee/vickiwusche Visit my website to learn more https://vickiwusche.com Booking calendar - https://calendly.com/vickiwusche Access the free resources: https://vickiwusche.com/resources/ Has this podcast started you thinking about what A Wealthy Life might look and feel like for you? Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast? https://scorecard.vickiwusche.com/ The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons. Browse Books by Vicki: Using Other People's Money: How to invest in property 4th edition Make More Money from Property: From investor thinking to a business mindset 2nd Edition Property for the Next Generation: Securing your future in uncertain times 2nd Edition The New Estate: Insights from the 22nd century The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style Or read the following Ebooks on VickiWusche.com: 9 Critical Property Principles The De-Job Yourself Manual: Break your reliance on a monthly wage The Values Manual: Understand what your values are and how they can be key to a successful business The Goal Setting Manual: Create meaningful and practical goals then achieve them

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3ª PARTE | 17 DIC 2025 | EL PARTIDAZO DE COPE

01 Jan 1970

El Partidazo de COPE

13:00H | 21 DIC 2025 | Fin de Semana

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12:00H | 21 DIC 2025 | Fin de Semana

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10:00H | 21 DIC 2025 | Fin de Semana

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13:00H | 20 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

12:00H | 20 DIC 2025 | Fin de Semana

01 Jan 1970

Fin de Semana

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A Wealthy Life

Ep 125 - Just Because You Can Does Not Mean You Should With Lisa Oliver

This episode hasn't been transcribed yet

Other recent transcribed episodes

3ª PARTE | 17 DIC 2025 | EL PARTIDAZO DE COPE

13:00H | 21 DIC 2025 | Fin de Semana

12:00H | 21 DIC 2025 | Fin de Semana

10:00H | 21 DIC 2025 | Fin de Semana

13:00H | 20 DIC 2025 | Fin de Semana

12:00H | 20 DIC 2025 | Fin de Semana

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